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2012 (5) TMI 24 - KERALA HIGH COURTClosing stock of the subsidiary company not shown as opening stock of that company but shown as opening stock of the holding company - Revenue stated that the value of the stock should be considered for assessment only at the hands of one company – Held that:- Since the subsidiary company submitted that in the Income Tax Appeal that was pending against the assessment of closing stock of the subsidiary company, they will not press that ground thereby accepting the closing stock of that company to be treated as opening stock for assessment - allow the appeals by setting aside the orders of the Tribunal and restore the matter to the Assessing Officer for re-consideration while revising the orders of assessment issued pursuant to the judgment in the case of Holding company
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